Morgan Stanley said in a report that a deceleration of rates at June 1 renewals may result in an increase in reinsurance merger and acquisition
Analysts at Keefe Bruyette & Woods last week also said that consolidation in the reinsurance space was likely to continue. Several executives they spoke to, however, do not think that there will be deals during the active hurricane season.
The National Hurricane Center recently downgraded Subtropical Storm Alberto
Proxy advisory firm Institutional Shareholder Services is advising AmTrust Financial Services Inc. shareholders to reject the company's pending go-private transaction
Chinese regulators appointed China International and UBS Group to advise them on plans to unwind
Anbang has also begun a search for a strategic shareholder after the state injected 60.8 billion yuan into the insurer and its former chairman was sentenced to 18 years in jail, Reuters wrote.
A federal court in Philadelphia ruled
Standard Life Aberdeen PLC proposed to return up to £1.75 billion of capital to its shareholders following completion of the sale
Featured news
Roche's Tecentriq meets goals in lung cancer study; J&J halts Darzalex trials: Roche Holding AG said the phase 3 IMpower 130 study of Tecentriq plus chemotherapy met its main goals, helping people with advanced, non-squamous non-small cell lung cancer live significantly longer compared to chemotherapy alone.
Financial news in parts of the world
Asia-Pacific: China overseeing 5 financial firms; SGX, NSE ends trading link talks
Europe: UK readying RBS stake sale; Italian bank stocks fall amid political turmoil
Middle East & Africa: Kenya, Tunisia hold rates; First International Bank of Israel posts Q1 profit
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, Hang Seng lost 1.00% to 30,484.58, while the Nikkei 225 fell 0.55% to 22,358.43.
In Europe, around midday, the FTSE 100 dropped 1.36% to 7,625.13, and the Euronext 100 shed 1.16% to 1,054.14.
On the macro front
The S&P Corelogic Case-Shiller home price index, the consumer confidence report, the State Street Investor Confidence Index and the Dallas Fed manufacturing survey are due out today.
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